UPDATE: RBC Capital Assumes Zoom Video (ZM) at Outperform
- Wall Street falls as Amazon earnings disappoint
- Amazon (AMZN) Plunges After Missing Sales and Guidance Expectations, Analysts Slash PTs to Reflect Weaker Guidance
- Pinterest (PINS) Tops Profit and Sales Views, But Shares Plunges Over 20% on a Big Monthly User Miss to Prompt Two Downgrades
- Bullard: Fed should taper this fall, go "fairly rapidly" to end early 2022
- Qualtrics International (XM) to Acquire Clarabridge
RBC Capital analyst Rishi Jaluria assumes coverage on Zoom Video (NASDAQ: ZM) with a Outperform rating and a price target of $450.00.
The analyst comments "We are assuming coverage of Zoom Video Technologies with an Outperform rating and $450 price target and naming it our top pick. Zoom is a leading provider of video communications services, with over 460,000 business customers, including a 50%+ of the Global 2000. While Zoom undoubtedly had stellar performance in 2020, with 320%+ revenue growth (at ~$3.5B in ARR) and 50%+ FCF margins and shares meaningfully outperformed (up ~400% in 2020), the big question is “how will Zoom perform in a post-pandemic world”? This question has led to Zoom shares trading down ~40% from October highs."
Shares of Zoom Video closed at $333.63 yesterday.
You May Also Be Interested In
- UPDATE: Needham & Company Starts N-Able Inc. (NABL) at Buy Post-Spin
- Toromont Industries Ltd (TIH:CN) (TMTNF) PT Raised to Cdn$115 at TD Securities
- Alamos Gold Inc. (AGI:CN) (AGI) PT Lowered to Cdn$15.50 at TD Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!